Amazon has agreed a deal to buy MGM - the entertainment giant behind James Bond - for £5.9billion.
The online retail behemoth is paying $8.45billion for TV studio which also owns rights to Legally Blonde and Shark Tank, in an effort to boost its streaming service Prime Video.
"Amazon will help preserve MGM's heritage and catalogue of films, and provide customers with greater access to these existing works," a joint statement said.
The acquisition is Amazon's second-largest takeover after it bought grocer Whole Foods for nearly $14billion in 2017.
Around 200million people currently have access to Amazon Prime Video because they are Prime members, which gives them faster delivery and other perks.
Besides Prime Video, Amazon also has a free streaming service called IMDb TV, where Amazon makes money by playing ads during movies and shows.
Buying MGM would give Amazon access to more films, shows and famous characters, including Rocky, RoboCop and Pink Panther. Amazon will also get a cable channel, Epix, which MGM owns.
MGM is one of the oldest Hollywood studios, founded in 1924 when films were silent, and has a long list of classics in its library, including Singin' In The Rain.
More recent productions include reality TV staples Shark Tank and The Real Housewives Of Beverly Hills, as well as the upcoming James Bond movie No Time To Die and an Aretha Franklin biopic called Respect.
Amazon is also dipping its toes into sports with a new Thursday Night Football show to stream from next year.
The company said it's working on a Lord of the Rings series which reportedly cost £318 million for its first season alone.
The MGM deal, which is subject to customary approvals, will make Amazon, already one of the most powerful and valuable companies in the world, even bigger.
Amazon, founded in 1995 as an online bookstore, has become a £1.1 trillion behemoth with shares in almost every industry - including hairdressing.
It has a delivery business network that gets orders to people in two days or sooner and has plans to send more than 3,200 satellites into space to beam internet service to Earth.
The announcement comes as boss Jeff Bezos prepares to step down as CEO.
